Amazon's Inferentia chip looks to bring machine learning to all – at Nvidia's expense?

Over at AWS re:Invent 2019, Amazon has officially launched its new Inferentia chip which is designed for machine learning. Specifically, AWS Inferentia is a custom-built chip designed to facilitate faster and more cost-effective machine learning inferencing, meaning using models you've already trained to perform tasks and make predictions. AWS says that Inferentia will deliver high throughput inference performance, and it will do this at an "extremely low-cost" with a pay-as-you-go usage model. Low latency is also promised courtesy of a hefty amount of on-chip memory. In terms of that inference throughput, Inferentia is capable of achieving up to 128 TOPS (trillions of operations per second), and multiple chips can be combined together if you really want to push the performance boundaries.